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43 Steps to Unlimited Success in Property . www.renos.com.au | info@renos.com.au | 1300 550 656. Introduction. This is a complete property checklist. Within each step there are sub-steps but this is the overall process of building a property portfolio.

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43 steps to unlimited success in property

43 Steps to Unlimited Success in Property

www.renos.com.au | info@renos.com.au | 1300 550 656


Introduction
Introduction

This is a complete property checklist.

Within each step there are sub-steps but this is the overall process of building a property portfolio.

It puts the whole investment property strategy into a understandable context.


43 steps to unlimited success in property
43 Steps to Unlimited Success in Property

  • Getting started: Save 10%  offset A/C

  • Plan your future: Set your goals, Financial Game Plan, 10 years, insert IP’s

  • Your first property: Buy first home or IP. Keep saving 10% into buffer. If cash poor, consider JV

  • Financial basics: Loans on vacant land not deductible

  • Control your finances: Good debt and bad debt


43 steps to unlimited success in property1
43 Steps to Unlimited Success in Property

  • Creating equity: Use offset accounts

  • The Money Finder: Find excess cash flow

  • Property Analysis Software: PIA Essential

  • Loanmaster Matrix: Or Mortgage Broker. How much can you borrow?

  • Property Rating Guide: Checklist. Engage Investigate Property?

  • Find a good accountant:“Property Wise”. Accountant quiz


43 steps to unlimited success in property2
43 Steps to Unlimited Success in Property

  • Making offers: Make heaps of offers. Have your clauses ready

  • Property Managers: Find Property Manager of the year

  • What names do you buy in?: Names/entities

  • Insurance: When you sign contract. House and contents/landlords/arson

  • Get it rented: Access to show tenants

  • Access for renovation: Clause in contract


43 steps to unlimited success in property3
43 Steps to Unlimited Success in Property

  • Settlement: Be available

  • Prepare for tenants: Clean, well maintained

  • Tenancy legislation: Know the rules

  • Quantity Surveyor: Essential for tax

  • Income tax return: Claim all costs – QS report

  • Maintenance: Street appeal/security

  • Adding value: 115 ways, equity gain, higher rent


43 steps to unlimited success in property4
43 Steps to Unlimited Success in Property

  • Rent: Keep it up

  • Tax deductions: Get list from Accountant

  • How to reduce your PAYG tax: Sect: 15/15

  • Using the reduction: Put into offset account not lifestyle

  • Property Number 2: When equity and cashflow increase

  • Property inspections: Regular


43 steps to unlimited success in property5
43 Steps to Unlimited Success in Property

  • Feed your mind: Educate yourself – books, videos, CD’s, workshops

  • Be patient: Delayed gratification

  • Paying cash: For non income producing items

  • Outgoings: Minimise e.g. interest, insurance

  • Variable costs: Control these

  • The ‘Buffer’: 10% or 6 months interest

  • Control your risk: Insurance/trusts


43 steps to unlimited success in property6
43 Steps to Unlimited Success in Property

  • Using your equity: Use it to build wealth not pools

  • Partners: JV

  • Bad tenants: Get over it!

  • Keep going: Build your IP portfolio

  • The Freedom Plan: Turn capital gain into income.

  • Financial Freedom and beyond: Choices


Summary
Summary

  • Use this as your guide to keep on track

  • Especially for the ‘newbies’

    Thank you